Exploring Market Dynamics in the Shadow Economy: The Case of ‘Tabuan’

Abstract

The term "tabuan" refers to flea markets that are widely recognized in the Philippines. As an informal yet vital economic space for marginalized sectors, tabuan fosters the exchange of goods, stimulating local trade and improving the economic conditions of the community. These markets not only provide financial earnings for vendors and traders but also contribute significantly to the weekly revenues of local governments. Furthermore, they serve as an essential platform for marginalized individuals to sustain their livelihoods. This study examines the dynamics of the tabuan market, focusing on the economic realities faced by vendors and traders. It seeks to explore the extent of marginalization experienced by these individuals while addressing both financial and non-economic factors that drive their participation and success in the shadow economy. Through these discussions, the study aims to contribute insights into market exchange mechanisms that enable tabuan traders to thrive despite economic challenges. Employing a qualitative research methodology, data were gathered through field notes, key informant interviews, and semi-structured interviews with tabuan traders. Analyses of related literature and manuscripts supplemented these primary data sources. The study presents a comprehensive examination of market dynamics, integrating theoretical concepts to substantiate claims of economic growth. It also identifies actionable solutions to support market development and improve the quality of life for marginalized communities.